§ 55A-17-03. Saving provisions.
130 words·~1 min read·
/nc/chapter-55a/55a-17-03A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 55A-17-03. Saving provisions.
(a)The existence of corporations formed before the effective date of this Chapter, shall not be impaired by the enactment of this Chapter nor by any change made by this Chapter in the requirements for the formation of corporations nor by any amendment or repeal by this Chapter of the laws under which they were formed or created, and, except as otherwise expressly provided in this Chapter, the repeal of a prior act by this Chapter shall not affect any liability or penalty incurred, under the provisions of such act, prior to the repeal thereof.
(b)Any proceeding or corporate action commenced prior to the effective date of this Chapter, may be completed in accordance with the law then in effect. (1993, c. 398, s. 1.)